UK's Osborne says planned extra spending cuts not huge

3/13/2016 10:14:29 AM

(MENAFN- The Peninsula) Britain's Chancellor of the Exchequer George Osborne holds up his budget case for the cameras as he stands outside number 11 Downing Street before delivering his budget to the House of Commons in London Britain July 8 2015.REUTERS/PETER NICHOLLS

LONDON: British finance minister GeorgeOsborne said on Sunday the additional spending cuts he plans toannounce this week were equivalent to 50 pence in every 100pounds the government spends by the end of the decade and wereachievable.

"I think we can find those savings. It's not a huge amountin the grand scheme of things" Osborne said in an interview onBBC television.

Osborne has said he plans to announce deeper cuts to publicspending as part of a budget statement due on Wednesday toprotect his plan to eliminate the budget deficit from aweakening of the economy.

Asked about the possibility of Turkey joining the EuropeanUnion Osborne also said he did not believe the country'saccession to the bloc was likely any time soon. "We could if wewanted to veto it as other countries could" he said.

Reuters

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.